Goldman: Schlumberger Is Now a ‘Conviction Buy’

The oilfield services giant’s stock can rise close to 30%, argues Goldman Sachs. We agree.

By

Teresa Rivas

May 23, 2016

Shares of Schlumberger are higher Monday, after Goldman Sachs added the oilfield services giant to its Conviction Buy list.

Analyst Waqar Syed reiterated a $94 price target on the stock, nearly 30% above today’s levels. He writes that Schlumberger is poised to dominate in the “New Oil Order” that’s emerged after the severe downturn in commodity prices that began nearly two years ago. “We see it as best positioned to meet changing customer needs and gain market share given its best-in-class financial, operational, and technical...